What type of agreement is the O'mari School Care USD Policy?

1.1 This page is called the ‘School Care Plan Terms and Conditions’ and contains full details of the Policy and spells out the commitments of both parties to the contract in this and the following sections.

• This contract is based on the information given by the Policyholder at application; the terms and conditions contained herein and applicable annexures and schedules.
• It is the responsibility of the Policyholder to inform us of any changes to the information provided at application stage that would have occurred before the Acceptance Date.

1.2 The SchoolCare USD policy is underwritten by Old Mutual Life Assurance Company Zimbabwe (OMLACZW).

1.3 The policy is distributed via the O’mari mobile wallet platform and other physical and digital distribution channels.

1.4 The contract is an annually renewable term assurance policy, providing a benefit on the death of the Life Assured.

1.5 The Policy has no surrender value which means no payment is made if a policyholder cancels the policy. The policy does not accrue interest.

1.6 Old Mutual Life Assurance Company Zimbabwe (OMLACZW) reserves the right to review premiums at the time of renewal and a one-month notice period will be given to the policyholders.

1.7 The customer can increase or decrease their level of cover.

2. Definitions

2.1 Some words used in these Terms and Conditions have a special meaning. To help you, we explain them here. Any words once defined will be shown in italics with the first letter capitalized.

Terms and Definition

Commencement Date - This is the date of entry as stated on the Schedule above.

Accident - A fatal and unforeseeable event that occurs after the Commencement Date in a violent, external and visible manner, and directly causes an injury resulting in the Life Assured’s death. It should not be intended, intentional, expected, or foreseeable.

Grace period - One calendar month from the due Date of the missed or unpaid Premium. Non forfeiture provisions will apply as per section 60 of the Insurance Act or other relevant regulations and legislation as amended from time to time, which states what happens if premiums are missed after certain durations.

Reinstatement Period - If two consecutive premiums are missed, the Policy enters into Reinstatement period. Reinstatement period is three calendar months with no cover.If a premium is received during the Reinstatement period, the Policy will be reinstated and missed premiums do not have to be paid.Only one Reinstatement period per term (one year) is allowed for this Policy.

Lapse - If you miss four (4) consecutive premiums, Your Policy will terminate, meaning that no payment will be made in the event of death of the life assured. Your Policy is said to have lapsed.

Life Assured - The person named on the Schedule as the Life Assured. This is the person on whose life the benefits are based and payable.

Eligible Ages - The minimum age at entry for a life assured is 18 years age last birthday and the maximum age at entry is 65 years age next birthday.

Policy - The legal contract between You and Old Mutual.

Policyholder/You/Your - The person applying for cover as shown on policy proposal.

OMLACZW - Old Mutual Life Assurance Company Zimbabwe

OMDSZW - Old Mutual Digital Services Zimbabwe

O’mari - Old Mutual Digital Services’ Mobile Wallet Platform

O’mari Partner - A merchant authorised by Old Mutual to receive beneficiary payments/funds under the FoodCare policy, to provide grocery benefits.

Premium - The amount You agree to pay under the Policy at the frequency stated on the Schedule.

Premium Due Date - This is the first day of the month.

Schedule - The Schedule issued by us for the Policy at commencement, or as amended by any subsequent endorsement or revised Schedule. The Schedule states the Policy details such as Sum Assured, Premium, applicable Waiting Periods, and Lives Assured details.

Sum Assured / Benefit / Cover Amount - The amount You are covered for, as stated on Your Schedule. This is the amount payable on death of the life assured.

Waiting Period - This is a period of time during which Life Cover is not available for deaths due to non-accidental causes on this Funeral Plan.

Group Contact Person - This is a member of Your Group that OMLACZW will carry out most of its communication through. The individual is responsible for reminding members to pay premiums and passing of communication and documentation from You to OMLACZW and from OMLACZW to You.

Wilful Exposure to Danger - Deliberate or intentional exposure to a life-threatening event except in an attempt to save human life.

2.2 If the meaning of a word as explained in Section 2 is in the singular then it includes the plural and the masculine shall include the feminine of that word and vice versa.

3. What are your regular Premium commitments?

3.1 You agree to pay Premiums in return for the cover provided by us under the Policy.

3.2 The cover starts from the Commencement Date, provided You fulfil Your commitment to pay Premiums as they fall due.

3.3 Premiums are payable monthly and can be paid up to 12 months in advance.

3.4 The premiums can be paid using the O’mari wallet, bank transfer, mobile money, and cash.

3.5 We reserve the right to add further means of payment or to stop using a means of payment at any time for administrative reasons.

3.6 We may agree with You a date other than the Premium Due Date on which You can pay regular Premiums (the ‘Collection Date’). Regular Premiums will still be regarded as due on the Premium Due Date.

3.7 A Premium is due on the 1st of each calendar month, and it may be paid in advance.

3.8 You need to pay Your Premiums for the term of the Policy.

4. What happens when You do not meet Your Premium commitments?

4.1 If You miss a Premium, the Policy enters into a one-month Grace period. Full benefits are available during the Grace period subject to Waiting Periods.

4.2 If two consecutive Premiums are missed, the Policy enters into the Reinstatement period.

4.3 Reinstatement period is three months with no cover.

4.4 The Policy terminates when the Reinstatement period ends and no Premium has been paid during the Reinstatement period. New business terms and conditions will apply should the client want to continue with the cover.

4.5 If a Premium is received during the Reinstatement period, the Policy will be reinstated and missed Premiums do not have to be paid.

4.6 Only one Reinstatement period is allowed during the term of this Policy.

5. Benefits

When is the Sum Assured payable?

5.1 If the Life Assured dies, then we will pay the Sum Assured applicable after the date of death for each school term, as per the school’s academic calendar for the period as specified in the policy.

If the benefit payment exceeds the school fees, the excess will be paid into the guardian’s account as per the school calendar.

If the benefit payment is less than the school fees, the guardian will be responsible for meeting the shortfall.

5.2 The Sum Assured will be paid out to an O’mari partner school for SchoolCare. O’mari reserves the right to add or remove institutions from the list of partners from time to time. The list of these partners can be viewed at any time on our website. A child can attend a school that is not a partner and the school fees will still be paid.

5.3 The school fees will be paid as per school invoice and any excess amount will be transferred into the guardian’s account as per the school calendar term.

5.4 Payment of the excess amount to the guardian will be done if and only if the child withdraws from school due to the following reasons:

1. Death
2. Sickness
3. Failure
4. other reasons as attested by school authorities.

The headmaster will have to provide a letter of justification for sickness, failure at school or other reasons that led to the child dropping out of school.

No payment of the excess amount will be paid if the child voluntarily withdraws from school without justification as stated in point (d) above.

6. Waiting period

6.1 This is a period of time from the Commencement Date during which Life Cover is not available. The Waiting Period only applies to deaths due to non-accidental causes.

6.2 The following is a summary of the Waiting Periods applicable.

Old Mutual innovation hub - Eight2Five – will this Friday 17 March, host a computer coding training for women in a bid to hone computer programming skills in females as well to rouse interest in more digital and innovation careers for women.

The coding bootcamp slated for 17 March, was inspired by this year's theme for International Women’s Day, ‘DigitALL: Innovation and technology for gender equality.’

According to data from the US based International Center for Women & Information Technology, women have made huge advances in fields like medicine and law, but the high-tech fields are still dominated by men.

With Old Mutual keen to develop more tech-focused skills in women to break the gender divide, the coding bootcamp seeks to empower women that are interested in understanding the basics of coding and ignite interest in more digital and innovation careers.

The bootcamp will be half day and is open to people that do not have any coding skills. By the end of the training, the ladies will be able to build their basic websites and develop UX design skills.

At Old Mutual Zimbabwe, entrepreneurship is an important core pillar of the responsible business strategy. The commitment to supporting small businesses so that they realize their aspiration is being driven by creating initiatives and opportunities for entrepreneurs.

Last year, Eight2Five innovation hub commenced its cloud computing upskilling programme for local technology and information communication technology (ICT) entrepreneurs.

The programme sought to upskill local entrepreneurs and start-ups in solving real-world problems through technology.

Kickstarting the program, Eight2Five powered by Old Mutual last year hosted the first hybrid Amazon Web Services (AWS) Cloud Computing onboarding in Harare.

The cloud computing session was a success, which drew over 65 developers and tech enthusiasts that attended the event in person while others joined virtually.

"Ensuring that female entrepreneurs get a globally competitive advantage is of great importance to us, this is why we took the initiative to put this together and continue the journey of empowerment," Old Mutual Womens Network leader Kudakwashe Mswaka said.

The vision of the Eight2Five innovation hub is to partner with Zimbabwean entrepreneurs and start-ups to achieve a shared vision of solving real world and business problems through technology. The coding bootcamp is opened to all women pursuing coding skills that unlock digital and innovation ideas and careers, for more information visit: https://eight2five.co.zw or email info@eight2five.co.zw.